First Bank Provides Mobile Measures To Combat Malfeasance

With more banking conducted on mobile devices, consumers need to take precautions

With more and more banking conducted on mobile phones and tablets, web-enabled handheld devices are increasingly becoming targets of criminals looking to obtain consumer personal and account information.

“Often remotely and without your knowledge, criminals are using malicious systems that will not only harm your mobile security but may also steal pertinent information,” said Tim Cook, Senior Vice President, Product Management, First Bank. “This can lead to identity theft or fraudulent activity on your account.”

Also known as malware or spyware, among the latest versions of these systems are Loozfon, an information-stealing program, and FinFisher, used to take over mobile device components.

According to Cook, there are several methods that criminals will deploy to lure mobile device users including: